The chief executive of crypto derivatives exchange FTX says that the company still has a sizable amount of cash left to burn on acquisitions.
In a new interview with CNBC’s Squawk Box, FTX CEO Sam Bankman-Fried says the firm still has about $1 billion in cash on the sidelines ready to help ailing crypto firms.
“We did not try to empty the coffers, so to speak. We had a couple billion going into this, and it lines up roughly with the amount that we’ve raised over the last year and on top of that we’ve been profitable.”
When asked if he had about a $1 billion left to deploy, Bankman-Fried said,
“Yeah, and you have the issue of how much we really feel comfortable